Press Releases

National Bank of Canada announces the redemption for cash of 350 million $ Series 3 Medium Term Notes

Montreal,
30 October 2014 -

The National Bank of Canada (the “Bank”) announces today its intention to redeem on December 22, 2014 all of its issued and outstanding Series 3 Medium Term Notes (subordinated indebtedness) due December 22, 2019 (the “Notes”).

Pursuant to the Notes’ terms, on December 22, 2014, the Bank may, at its option, redeem for cash the Notes at a price equal to their principal amount together with any accrued and unpaid interest to but excluding the date of redemption.The regular interest due in respect of the Notes on December 22, 2014 will be paid in the usual manner to holders, leaving no accrued and unpaid interest on the Notes at the time of their redemption.

The redemption of the Notes is subject to the approval of the Office of the Superintendent of Financial Institutions. Funded solely from the Bank’s general funds, this redemption is part of the Bank’s ongoing management of its regulatory capital.

A formal notice will be issued to the holders of the Notes in accordance with the Notes’ terms.

The Bank recommends that holders of the Notes consult with their tax advisors to determine the appropriate treatment and impact of the redemptions.

Caution Regarding Forward-Looking Statements

This press release includes certain forward-looking statements. These forward-looking statements include the Bank’s intentions regarding the redemption of the Notes. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank, including the obtaining of regulatory approval required to complete the proposed redemption. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

About National Bank of CanadaWith $199 billion in assets as at July 31, 2014, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.

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